Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Speculatoross]

FWIW, Gregory Maxwell also believed that satoshi's design was fundamentally and irredeemably broken. And these are the 'geniuses' that so much of the community choose to follow.  

As if you have any kind of credibility here to be asserting the ideas of GMaxwell in proper context?

You need me to dig up a quote to show how wrong you are?

Found this:

"When bitcoin first came out, I was on the cryptography mailing list. When it happened, I sort of laughed. Because I had already proven that decentralized consensus was impossible."

but than also

"I started contributing to the bitcoin software basically right after paying attention to it and learning how it worked. Seeing, 'oh, this isn't impossible'."

https://www.coindesk.com/gregory-maxwell-went-bitcoin-skeptic-core-developer/


Even tho "someone" simply thinks this about  Maxwell

[mymenace]

FWIW, Gregory Maxwell also believed that satoshi's design was fundamentally and irredeemably broken. And these are the 'geniuses' that so much of the community choose to follow.  

As if you have any kind of credibility here to be asserting the ideas of GMaxwell in proper context?

You need me to dig up a quote to show how wrong you are?

Found this:

"When bitcoin first came out, I was on the cryptography mailing list. When it happened, I sort of laughed. Because I had already proven that decentralized consensus was impossible."

but than also

"I started contributing to the bitcoin software basically right after paying attention to it and learning how it worked. Seeing, 'oh, this isn't impossible'."

https://www.coindesk.com/gregory-maxwell-went-bitcoin-skeptic-core-developer/


Even tho "someone" simply thinks this about  Maxwell

Who in hell is Greg Smackswell

[d_eddie]

What the hell does this volume decline mean?

-Not even Doanld will risk a wall
-LOL bleedout
-No volume bounce is possible, some anti gravity force I don't know about is out there

It shows indecision as we get to the apex of the big triangle. Something big will happen within the next week or two.

So let's say that their is no volume --> nobody sells nobody buys, no bots nothing.
What happens to the price?

It stays the same level , doesn't it?

"No volume" hasn't happened yet. Low volume means that anybody who buys/sells even just 1$ of the stuff (maybe to themselves, as in a wash trade) get to make the price the world sees. This price manipulation is extremely easy, meaning cheap, because of the low volume.

[JayJuanGee]

also WO is like 20 pages further anything funny happend ?

We read infinite JayJuanGee posts and were fascinated by the material:

And, like this, too:

[Torque]

No. I have no doubt that the result of changing the PoW for Bitcoin will be yet another forked chain that is NotBitcoin.
Yet, this is exactly what Luke-jr has been advocating as of late. Look it up.
All y'all need to get out more.

And yet that's exactly what the BCash idiots did, forked a chain that is NotBitcoin. Oh the irony.

But jbreher likes his selective amnesia, it feeds into his cognitive dissonance I guess.  

[mymenace]

No. I have no doubt that the result of changing the PoW for Bitcoin will be yet another forked chain that is NotBitcoin.
Yet, this is exactly what Luke-jr has been advocating as of late. Look it up.
All y'all need to get out more.

And yet that's exactly what the BCash idiots did, forked a chain that is NotBitcoin. Oh the irony.

But jbreher likes his selective amnesia, it feeds into his cognitive dissonance I guess.  

Bcash in freefall


 

[El duderino_]

No. I have no doubt that the result of changing the PoW for Bitcoin will be yet another forked chain that is NotBitcoin.
Yet, this is exactly what Luke-jr has been advocating as of late. Look it up.
All y'all need to get out more.

And yet that's exactly what the BCash idiots did, forked a chain that is NotBitcoin. Oh the irony.

But jbreher likes his selective amnesia, it feeds into his cognitive dissonance I guess.  

Bcash in freefall


 

[El duderino_]

[greensheep]

What the hell does this volume decline mean?

-Not even Doanld will risk a wall
-LOL bleedout
-No volume bounce is possible, some anti gravity force I don't know about is out there

It shows indecision as we get to the apex of the big triangle. Something big will happen within the next week or two.

So let's say that their is no volume --> nobody sells nobody buys, no bots nothing.
What happens to the price?

It stays the same level , doesn't it?

"No volume" hasn't happened yet. Low volume means that anybody who buys/sells even just 1$ of the stuff (maybe to themselves, as in a wash trade) get to make the price the world sees. This price manipulation is extremely easy, meaning cheap, because of the low volume.

Thanks, d_eddie, I was actually trying to understand the 'volume preceeds the price' statement.
I often read "their is no volume, volume is declining, price will go down... "
So price shifts upwards with high volume  --> uptrend confirmed
Currently price seems stable but the volume is declining, so prices can be stable with decreasing volume too?

[Last of the V8s]

via @qew

[Last of the V8s]

http://archive.is/Y9NNv - http://www.thedrive.com/the-war-zone/21358/virginia-soldier-may-have-had-bigger-plans-for-drug-fueled-rampage-in-stolen-armored-vehicle

He was also involved in the development of a cryptocurrency called ZenCash, before leaving the project and claiming he had discovered a way to hack its underlying blockchain. One of his more cryptic Tweets said "permission to execute the 0day sir," with a "zero-day" being a common term for a known cybersecurity vulnerability. On June 4, 2018, ZenCash did suffer a cyberattack, but there is no evidence so far linking Yahut to that event.

via @shinohai

[vroom]

nice one, thanks for sharing.

[btcone111]

Only a breakout that is 1/3 away from apex of triangle is significant.

If btc manages to exit the pattern from the apex, the direction of exit is not important

[RayX12]

Looking at these graphs makes me think that BTC is ON TRACK TO MOON LANDING as long as hashrate continues to climb.

Hashrate vs Price last 12 months (linear scale):



Hashrate vs Price all time (log scale):

[vroom]

Looking at these graphs makes me think that BTC is ON TRACK TO MOON LANDING as long as hashrate continues to climb.

IMO hashrate is following the price.

we would see decreasing hashrate when the bitcoin price is to low for to long. if there is no money left to pay power bills hashrate will fall fast.

[loveraltcoin]

No. I have no doubt that the result of changing the PoW for Bitcoin will be yet another forked chain that is NotBitcoin.
Yet, this is exactly what Luke-jr has been advocating as of late. Look it up.
All y'all need to get out more.

And yet that's exactly what the BCash idiots did, forked a chain that is NotBitcoin. Oh the irony.

But jbreher likes his selective amnesia, it feeds into his cognitive dissonance I guess.  

Funny thing is how they try to be Bitcoin instead of “something better” (according to their religion).

Why would you want to be the same as something that you think less of your product. Few days ago I saw global “rebranding” campaign that would make us believe which is the true Bitcoin 

[STT]

The hash rate scares me, all that money being poured into serving the network.     Im all for efficiency driven competition, the network has to stay cheap vs competitors to use so I dont want to see them with higher costs from big R&D on asic.   I guess it'll work itself out in some way

The SEC Says Bitcoin Can Replace Sovereign Currencies And Cryptocurrencies Are Not Securities. (thecryptograph.net)

https://thecryptograph.net/sec-says-bitcoin-can-replace-sovereign-currencies-not-security-but-icos-are/

This seems massive news, taxing every single transaction and exchange of crypto is basically criminalising a population because normal people cant be paying accountants to do their books because they bought a bottle of shampoo with bitcoin.   Seems there is conflicting ideas and it cant be that people suffer from just doing normal things.

Roughly bullish action, 7720 as a short term cap and 7370 seems a good base.  yea I have 7720 already drawn in as a fib line, that'd make 8043 target upside initially

[jojo69]

it cant be that people suffer from just doing normal things.

oh...but it can

[thisisntbic]

Hashrate vs Price all time (log scale):

Interesting. Log scale shows an almost inverse correlation between hash rate and price.  I wonder if this holds true for more than just the past year (didn't realize graph was all time  ). Did price dip with that big increase in hashpower recently?

Of course correlation =/= causation.

[BitcoinNewbie15]

Looking at these graphs makes me think that BTC is ON TRACK TO MOON LANDING as long as hashrate continues to climb.

Hashrate vs Price last 12 months (linear scale):



Hashrate vs Price all time (log scale):

Its insane how much the hashrate has grown. Miners must see a bullish future for Bitcoin because they are essentially investing a ton of money in BTCs infrastructure. Hash rate continues to grow even during a price decline. To me at least, that seems pretty bullish.